This line was tested in support last week. Currently the rate stands at 1.
The Australian dollar is the fifth most traded currency in the world, accounting for 7. It is also a reserve currency. The Australian dollar, generally referred to by foreign-exchange traders as the "Aussie", is popular with currency traders because of the comparatively high interest rates in Australia, the relative freedom of the foreign exchange market from government intervention there and the general stability of Australia's economy and political system.
Adding to its attractiveness is the prevailing view that the Australian dollar offers diversification in a portfolio containing the major world currencies because of its greater exposure to Asian economies and the commodities cycle.
The pair is largely affected by interest rate differentials between the countries and by banking announcements. Some economists theorize that commodity prices are the dominant driver of the Australian dollar, and this means changes in exchange rates of the Australian dollar occur in ways opposite to many other currencies.
The index improved to This was only the second reading pointing to expansion since October The April reading posted a gain of 0.
The estimate for the May release stands at 0. The RBA is not expected to change the benchmark rate, with the national election last week. Currently the rate stands at 1. The RBA will publish its decision with a rate statement. Debelle will deliver remarks at an event in Sydney. The index continues to register readings below the point level, pointing to contraction in the construction sector. The index dipped to This line was tested in support last week.
It is the final support level for now. A demo account is intended to familiarize you with the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment. Results achieved on the demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment.
After a multi-decade commodity boom brought the Australian Dollar to all-time highs against the US Dollar , traders were often attracted by the interest rate differential in the pairing.
Of recent, tides have appeared to change as economic difficulties in China coupled with bear markets in metals and many commodities, have created a more opaque picture of the future of Australia's financial prospects. Event-driven macro and classic technical analysis Average Time Frame of Trades: A few days to a few weeks.
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